What is the UK government's new plan to tackle youth unemployment?

The government is introducing a £1 billion funding package to create 200,000 jobs through initiatives like the Youth Jobs Grant and apprenticeship incentives, alongside expanding the existing jobs guarantee.

How much funding is available for businesses hiring young people in the UK?

Businesses can receive £3,000 for each young person aged 18-24 hired who has been unemployed for six months, and £2,000 for each new apprentice aged 16-24.

What is the current rate of young people not in education, employment, or training in the UK?

Currently, around 946,000 young people, or 12.7% of the 16-24 age group, are estimated to be not in education, employment, or training (NEET).

Home / Business and Economy / UK Tackles Youth Job Crisis: £1B New Deal Launched

UK Tackles Youth Job Crisis: £1B New Deal Launched

16 Mar

•

Summary

Government offers £3,000 to employers hiring long-term unemployed youth.
A new apprenticeship incentive pays businesses £2,000 per young hire.
Over 940,000 young people are currently not in education, employment, or training.

UK Tackles Youth Job Crisis: £1B New Deal Launched

The UK government is introducing a significant "new deal" to address a worrying increase in youth unemployment. Work and Pensions Secretary Pat McFadden announced a £1 billion funding package designed to generate 200,000 new job opportunities for individuals aged 16 to 24.

A key component is the Youth Jobs Grant, offering employers £3,000 for each new hire aged 18-24 who has been seeking work for at least six months. This scheme is expected to support approximately 60,000 young people. Furthermore, a new apprenticeship incentive will provide £2,000 to small and medium-sized businesses for every new employee in the 16-24 age bracket.